Airbus announces additional production pauses
Airbus said on Monday it had decided additional production pauses, in Germany and in the United States, in response to an industry-wide slowdown triggered by the coronavirus crisis.
Alaska’s RavnAir bankruptcy while awaiting government aid shows regional airlines’ challenges
RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy on Sunday and grounded all of its 72 planes, saying it was clear that government aid would not arrive before it ran out of cash in the midst of an “astonishing” decline in book…
Wall Street surges on hopes of slowing coronavirus deaths
U.S. stocks surged on Monday, with each of the major indexes rallying more than 5%, after a drop in the daily death toll in New York, the country’s biggest coronavirus hot spot, fueled hopes a leveling off of the pandemic was on the horizon.
Capri furloughs all North America retail staff, sees stores opening around June 1
Capri Holdings Ltd will furlough all its 7,000 retail staff in North America due to the coronavirus outbreak and expects to reopen stores around June 1, the owner of Michael Kors and Versace brands said on Monday.
Governor Cuomo sees signs of pandemic ‘flattening’ in New York
New York Governor Andrew Cuomo on Monday cited tentative signs the coronavirus outbreak was “flattening” in his state but warned against complacency as the U.S. death toll topped 10,000 and the number of cases reached 350,000.
Alaska Air expects to lower April and May capacity by 80%
The U.S. carrier had earlier planned to reduce its April capacity by at least 10% and May capacity by at least 15%.
S&P 500 set to recover $1 trillion in value as virus deaths slow
The S&P 500 was on track to recover about $1 trillion in market value in a furious rally on Monday after a drop in the daily death toll in New York, the country’s biggest coronavirus hot spot, raised hopes that the pandemic could level off soon.
Exclusive: Qatar Petroleum – coronavirus turmoil will not stop LNG expansion abroad
Qatar Petroleum (QP) is pressing ahead with foreign as well as domestic expansion despite the global market turmoil caused by the coronavirus pandemic, its chief executive told Reuters on Monday.
U.S. airlines ease loyalty programs in coronavirus travel slump
U.S. airlines are extending loyalty program benefits and status into 2021 for members homebound because of the new coronavirus.
Stocks jump as virus deaths slow; oil falls on OPEC+ delay
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some of the world’s hot spots, while a delay in talks between Saudi Arabia and Russia to cut supply sent oil prices tumbling again.
